Irvine Wayne Brewer Allegedly Participated in New Life Without Proper Prior Written Notice
From November 1, 2012 through December 31, 2012, Irvin Wayne Brewer, formerly registered with Waddell & Reed, participated in an outside business activity, New Life, without providing prior written notice to and receiving approval from Waddell & Reed, according to a recent FINRA Letter of Acceptance, Waiver and Consent (AWC).
The AWC further alleges that, between November 1 and November 28, 2012, Brewer reportedly formed New Life as a limited liability corporation in the State of Indiana, and created and signed an Operating Agreement for New Life. What is more, the AWC notes, between December 20 and 31, 2012, Brewer allegedly accepted compensation from two sets of Waddell customers for planning advice offered through New Life.
Irvine Wayne Brewer, Suspended and Fined, Allegedly Failed to Notify Waddell & Reed Regarding Outside Business Activities
On December20, 2012, customers known only as R & LW allegedly paid Brewer $4,700, and on December 31, 2012, customers known only as R & JF paid Brewer $2,800, the AWC further alleges. Brewer reportedly failed to provide prior written notice to Waddell for these outside business activities, the AWC reports.
As a result of the alleged aforementioned malfeasance, Brewer violated FINRA Rules, and has received a 30-day suspension from associating with any FINRA member in any capacity, and $5,000 fine, the AWC informs.
Investor Rights Attorneys Investigating
The Peiffer Wolf investment rights attorneys often represent investors who lose money as a result of investment misconduct. They take most cases of this type on a contingency fee basis and advance the case costs, and only get paid for their fees and costs out of money they recover for their clients.
Investors who believe they lost money as a result of investment misconduct may contact the investor rights lawyers at Peiffer Wolf, Jason Kane or Joe Peiffer, for a free, no-obligation evaluation of their recovery options, at 585-310-5140.
Broker: Irvin Wayne Brewer
Status: INVESTIGATED by Peiffer Wolf.
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